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Dec 29, 2012
12/12
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so the first three months of the year you have fiscal cliff, debt limit, and appropriations laps all staring the american people in the face. i get it that people are sick of this combat at the same time it is because we ave such an nasa's spending problem is the reason why these things are occurring the way they are. tom: you heard the president come out and talk to the white house press corps. he talked about maintain a middle-class tax cuts. he did not define what that is. maybe it to 50 might be 40500. extend unemployment benefits and the spending cuts will get to those letters. >> here is what is so ironic, the same democrats in 2001 and three railed against the bush tax cuts. now see some salvation in them because they are what is propping up the economy right now. beyond the ironic part of this, look, not only do you have that tax policy expiring and the sequestration pending on january 2nd, but we have also got a lot of taxes kicking in january 1st which will pack a mighty big wallop. this is the perfect trifecta of bad things happening to the economy all at once. no one is t
so the first three months of the year you have fiscal cliff, debt limit, and appropriations laps all staring the american people in the face. i get it that people are sick of this combat at the same time it is because we ave such an nasa's spending problem is the reason why these things are occurring the way they are. tom: you heard the president come out and talk to the white house press corps. he talked about maintain a middle-class tax cuts. he did not define what that is. maybe it to 50...
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Dec 31, 2012
12/12
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the perfect storm fiscal cliff debt ceiling. what is the debt ceiling? >> we are only allowed to borrow so much without asking congress. every time the president wants more money you have to go to congress to ask for more money. you have to have the people elected approve spending increases. 16 trillion in debt we are bumping our head on the debt ceiling right this menu. when you look at how much we are spending we are similar to spain and greece. it is not a pretty scenario. >> tell me this what happens when we judge up against it? >> everybody starts wondering when we are going to raise the debt ceiling. there's a debate because they don't like to. then you have all of wall street looking at this wondering if we will be able to pay our bills. you remember what happened last time around the market sold off 2,000 points over the 2 month period. it was dramatic and hurt people's 401 k's. if you can't pay your bills you get a downgrade. >> again. >> it's not going to be good news. you know what happens you can't borrow as much money. >> that's what happens
the perfect storm fiscal cliff debt ceiling. what is the debt ceiling? >> we are only allowed to borrow so much without asking congress. every time the president wants more money you have to go to congress to ask for more money. you have to have the people elected approve spending increases. 16 trillion in debt we are bumping our head on the debt ceiling right this menu. when you look at how much we are spending we are similar to spain and greece. it is not a pretty scenario. >>...
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Dec 31, 2012
12/12
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so i don't think that we're talking about simultaneously fiscal cliff, and, a debt default. liz: wilbur, you have the uncanny ability to put down a lot of fear and invest anyway. even if we face a greek-style problem, recession again. what do you like to invest in natural gas, with certain regards you were making investments there. tell us what you like going forward into the new year? >> i really like the natural gas, the shale gas activity. -pand the reason i like it is it's the one thing that could be a true economic game-changer without requiring one penny of federal assistance. it could move us toward energy independence. could cut our balance of payments deficit. could create hundreds of thousands of jobs. could let us be an exporter of chemicals and other products. could result in vast capital expenditures in chemical and plastics industries. and finally, could lower the cost of electricity both for manufacturers and consumers. it could put a few hundred dollars a year more in the pockets of every-day people. that is something that would really be good for the economy
so i don't think that we're talking about simultaneously fiscal cliff, and, a debt default. liz: wilbur, you have the uncanny ability to put down a lot of fear and invest anyway. even if we face a greek-style problem, recession again. what do you like to invest in natural gas, with certain regards you were making investments there. tell us what you like going forward into the new year? >> i really like the natural gas, the shale gas activity. -pand the reason i like it is it's the one...
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Dec 31, 2012
12/12
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obviously we are going over the fiscal cliff. we go over regardless. the main point here is that this bill did not solve anything as far as the debt is concerned. you know, the democrats have said to me today look, we've already put cuts in. now, yes, they agreed to spending cuts in 2011 as you know over a ten-year period. but those cuts have not occurred yet. these are cuts over ten years that really very few people believe will actually happen. there are also cuts of projected increases. so so far we haven't seen any cuts to spending. we're only seeing expectations and conversations of cuts of projected increases in spending. >> right. >> it certainly feels we've got a way to go. >> that's where the republicans have the leverage, the debt ceiling. >> exactly. >> and this is going to be another fight over and over again. >> what we heard from mitch mcconnell earlier today was let's get a vote on the tax portion of this agreement and then they can worry about the spending cuts. and i think it's all pretty clear that they're waiting for that debt ceilin
obviously we are going over the fiscal cliff. we go over regardless. the main point here is that this bill did not solve anything as far as the debt is concerned. you know, the democrats have said to me today look, we've already put cuts in. now, yes, they agreed to spending cuts in 2011 as you know over a ten-year period. but those cuts have not occurred yet. these are cuts over ten years that really very few people believe will actually happen. there are also cuts of projected increases. so...
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Dec 29, 2012
12/12
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cliff, and the debt e creeling that tim geithner said that we would have to raise any day now, and is this the next couple of months in terms of the debate? does the white house have a strategy of dealing with both in the next phase? >> well, they are quite clear that there's probably just too much at this point to put that in this initial package and specifically the debt ceiling, and saying there is no way to address that right now. they know that is the next big hurdle they are going to have to face once they deal with the immediate issue of the tax hikes and spending cuts, so i believe that you are absolutely right. in terms of the strategy f they have one, they have not revealed the details about that quite yet. president obama today, and what i thought was interesting is using the power of the bully pulpit to put pressure on congress to get this basic deal done that he is calling for, and richard, one of the things that he said at the end of the remarks is that essentially this is not how the american people do business and just to remind you that ordinary folks meet their deadl
cliff, and the debt e creeling that tim geithner said that we would have to raise any day now, and is this the next couple of months in terms of the debate? does the white house have a strategy of dealing with both in the next phase? >> well, they are quite clear that there's probably just too much at this point to put that in this initial package and specifically the debt ceiling, and saying there is no way to address that right now. they know that is the next big hurdle they are going...
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Dec 1, 2012
12/12
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solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs is a great way for the president to start his second term. and for the good of our country, and my colleagues, we're ready to work with the president to achieve those goals. >> mr. speaker, couple things. first, on the issue of tax rates, are you willing to accept no deal that includes some increase in those top tax rates? and i'm also wondering what our final deadline is on this? when do we really have to have a deal? >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. we're willing to put revenues on the table, but revenues that come from closing loopholes, getting rid of special interest deductions, and not raising rates. we think it's better for the economy. pure and simple. secondly, the american people expect us to find common ground, to work together, and to resolve this. and frankly, sooner is better than later. >> you've been doing this for a long time. the past 24
solving the fiscal cliff in a manner that addresses the true drivers of our debt and saves american jobs is a great way for the president to start his second term. and for the good of our country, and my colleagues, we're ready to work with the president to achieve those goals. >> mr. speaker, couple things. first, on the issue of tax rates, are you willing to accept no deal that includes some increase in those top tax rates? and i'm also wondering what our final deadline is on this? when...
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Dec 12, 2012
12/12
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as you know, the senate currently engaged in a high-stakes chess game over the fiscal cliff. one of the pieces they're moving around the board is the debt ceiling. president obama recently said that he, the president, should have the authority to raise the debt ceiling not the congress. they use it as a bargaining chip. that's not rye. senate minority leader mitch mcconnell knows what that means >> the president of the united states, now he's asking for an unlimited -- unlimited -- authority to borrow whenever he wants to for whatever amount he wants to? >> jon: (musming) all right. so the senator clearly doesn't know what the debt ceiling means. the debt ceiling is a control imposed on the treasury department by congress in order to, you know, is there just some well informed and respected authority that can explain what the debt ceiling is >> it gives the government permission to pay back the money we already borrowed >> jon: totally right. i didn't understand it because he was talking too fast but i think he's [bleep] right. and i like that lady too. i don't know her. even
as you know, the senate currently engaged in a high-stakes chess game over the fiscal cliff. one of the pieces they're moving around the board is the debt ceiling. president obama recently said that he, the president, should have the authority to raise the debt ceiling not the congress. they use it as a bargaining chip. that's not rye. senate minority leader mitch mcconnell knows what that means >> the president of the united states, now he's asking for an unlimited -- unlimited --...
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Nov 29, 2012
11/12
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FBC
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john boehner said no substantial progress on fiscal cliff debt deal while harry reid insists we democrats are on track and will finalize it this year. even chuck schumer weighed in saying progress is being made on the hill and the next is a taste oversensitive. take a look at the intraday, you can see how it was jerked around today. right around 11:30 a.m., speaker john maye -- john boehner spoke. the buyers poured in, the short time later chuck schumer came in. now we are trading near the highs of the day. the dow jones dust they stop 77 points, 45 to the upside. all 10 s. and p. sectors are jumping with technologies leading the way. research in motion a big winner. can you believe the stock is near $12 per share. rim was at $6 per share, but positive comments out of goldman sachs fueling the game. apple in the green continuing the postelection resurgence. apple was in bear market correction level just a few weeks ago, but right now jumping about 1%. disappointing november sales numbers. costs dropping 6%, tiffany got a markdown, earnings missed street estimates. and then there is aeropo
john boehner said no substantial progress on fiscal cliff debt deal while harry reid insists we democrats are on track and will finalize it this year. even chuck schumer weighed in saying progress is being made on the hill and the next is a taste oversensitive. take a look at the intraday, you can see how it was jerked around today. right around 11:30 a.m., speaker john maye -- john boehner spoke. the buyers poured in, the short time later chuck schumer came in. now we are trading near the...
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Dec 28, 2012
12/12
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WUSA
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the fiscal cliff and a weather sam, pretty powerful one heading our way. erica joins us. >> it could bring us our biggest snowfall so far this '84 and that would be a big deal. let's take a look new at satellite and radar. you can see that wintry weather approaching. there's a little bit of snow in basically the great lakes region and then rain approaching from kentucky, moving toward west virginia. that rain will change over to snow and a wintry mix. that's why a winter weather advisory is in effect from 3:00 a.m. tomorrow until 6:00 p.m. tomorrow, and for tall counties highlighted in blue, and it looks like we could see an accumulation not only in those counties but also a little bit further south of that. that's what i'm expecting for this winter storm. snow with wintry mix arriving early in the morning with accumulations in the district and points north and west. a wintry mix with rain south and east of d.c. the precipitation moves out as we head into the afternoon and early eveninon saturday, but not after dumping about a coating in the district and e
the fiscal cliff and a weather sam, pretty powerful one heading our way. erica joins us. >> it could bring us our biggest snowfall so far this '84 and that would be a big deal. let's take a look new at satellite and radar. you can see that wintry weather approaching. there's a little bit of snow in basically the great lakes region and then rain approaching from kentucky, moving toward west virginia. that rain will change over to snow and a wintry mix. that's why a winter weather advisory...
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Dec 31, 2012
12/12
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FBC
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where the fiscal cliff is scary for housing is the 2007 debt forgiveness act. if they do not extend, people will just foreclose. short sales, even banks get in on the short sales programs because they make more money on short sales. people have better end results when they short sale. if that doesn't happen and they don't come to the conclusion people will foreclose, because they won't bear the burden of tax situation as you do when you short sale without the debt forgiveness. adam: quickly, if not buying but selling should i sell now? i always heard you don't sell during the holidays. wait near the spring when people buy a house to get the kids ready. is that a bad thing or should i put the house on the market? >> holidays are a great time to buy. that is the biggest myth. adam: what about sell? >> you have serious buyers out there. if you're selling you have serious people walking through their house. they may need to get their kids into a certain school district or may need to change jobs before the beginning of the year. sellers may sell to avert the tax im
where the fiscal cliff is scary for housing is the 2007 debt forgiveness act. if they do not extend, people will just foreclose. short sales, even banks get in on the short sales programs because they make more money on short sales. people have better end results when they short sale. if that doesn't happen and they don't come to the conclusion people will foreclose, because they won't bear the burden of tax situation as you do when you short sale without the debt forgiveness. adam: quickly, if...
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Nov 30, 2012
11/12
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unfortunately, one of the big upsets about this fiscal cliff and the $16 trillion debt is the taxes and what we're leaving to our kids and grand kids. i hate to pour cold water on this, bill. poor charlie. >>> all right. we have the closing countdown next. >> after the bell, we'll hear from somebody who says entitlements didn't cause our debt problems, cuts to them shouldn't be part of the fiscal cliff solution and the negotiations continue. you're watching cnbc, first in business worldwide. d... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. well, having a ton of locations doesn't hurt. and a santa to boot! [ c
unfortunately, one of the big upsets about this fiscal cliff and the $16 trillion debt is the taxes and what we're leaving to our kids and grand kids. i hate to pour cold water on this, bill. poor charlie. >>> all right. we have the closing countdown next. >> after the bell, we'll hear from somebody who says entitlements didn't cause our debt problems, cuts to them shouldn't be part of the fiscal cliff solution and the negotiations continue. you're watching cnbc, first in...
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Dec 30, 2012
12/12
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cliff. he said he is moderately optimistic that a deal could be done by december 31. congressional leaders are working on crafting a bill. certainly no grand bargain here that would improve entitlements. if they can't get a deal, the president has told harry reid to put the white house proposals up for an up or down vote. the details just keep on coming out. with us now are two guests. first, we are going to go rich edson. he is here with the very latest. tell us what you made of the president's comments. he was very direct. reporter: he was. d now he passes on to the senate. senate majory leader harry reid, senate minority leader mitch mcconnell. they are trying to come up with something that can pass the house and the senate. the president laid out a proposal earlier this evening. at the beginning of this meeting. $250,000 per year. that income would be shielded from tax increases, and now he wants an extension of unemployment insurance. that is something that essentially a nonstarter in a
cliff. he said he is moderately optimistic that a deal could be done by december 31. congressional leaders are working on crafting a bill. certainly no grand bargain here that would improve entitlements. if they can't get a deal, the president has told harry reid to put the white house proposals up for an up or down vote. the details just keep on coming out. with us now are two guests. first, we are going to go rich edson. he is here with the very latest. tell us what you made of the...
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Dec 13, 2012
12/12
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even in the debt ceiling debate or the fiscal cliff negotiations that neither side will give and they're both being unreasonable. and really not drilling down. the other thing they do is they really go back to newt gingrich and grover norquist. as you've talked about both these things, changing the culture of washington and making compromise impossible. >> here's something really naughty, i think in terms of policy. who can forget back in august not a million years ago when the romney pollster neil newhouse said the following. we're not going to let our campaign be dictated by fact checkers. think about that. fact checkers meaning facts. >> right. >> i was on the show with you the other night. we talked about the quotes of the year. 47%. >> that's a good one. >> i thought this should be the top two of three. that showed their view towards reality. it was an arrogance that we can say whatever we want to say. and i think in years past, this is what's changed. campaigns would not be so brazen. if caught in a lie they maybe feel some shame. here's neil newhouse telling reporters that we don'
even in the debt ceiling debate or the fiscal cliff negotiations that neither side will give and they're both being unreasonable. and really not drilling down. the other thing they do is they really go back to newt gingrich and grover norquist. as you've talked about both these things, changing the culture of washington and making compromise impossible. >> here's something really naughty, i think in terms of policy. who can forget back in august not a million years ago when the romney...
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Dec 31, 2012
12/12
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when we come back, going over the fiscal cliff or not is one of the many issues facing the market. what should you expect to happen with your money? our debate is next. plus, your reaction. ♪ music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. inrmation on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i ner missed a beat. we're more than 78,000 people loong out for more than 70 million americans. that's health in numbers. unitedhealthcare. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a prective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. relieving the pain quickly. [girls laugh, bell rings] - whever. - he asked me right before school started. - no way! - hi. - hi. - ♪ shine, come on and let it shine ♪ ♪ light me up-- - hi. gerri: you'
when we come back, going over the fiscal cliff or not is one of the many issues facing the market. what should you expect to happen with your money? our debate is next. plus, your reaction. ♪ music is a universal language. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. inrmation on my phone. connection to doctors who get where i'm from. and tools to estimate what my care may cost. so i ner...
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Dec 24, 2012
12/12
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CSPAN
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that assumes that somehow the fiscal cliff doesn't happen and we don't reduce the deficit by $600 billion. national debt, about $16 billion , debt held by the public -- as a percentage it is getting up there. we've had it before. as we talked about two weeks ago it is not so much that the size of the debt it is how fast the debt is growing in comparison to the size of the economy. you don't want to pay off the debt but you want it to fall. host: how did we get to this point? why is the government spending so much and under this president, we've seen the debt go up $1 trillion each year over the last four years. where is it going? guest: there are two main ways to look at it. right now, we're still coming out of this economic crisis. so you have large debts for four years mainly because you have low revenues as people don't have jobs or they are getting paid less. then there has been extra spending programs over the last four years but also, we have this mandatory spending programs that grow on auto pilot. over the last four years they have grown because they represent the basic social saf
that assumes that somehow the fiscal cliff doesn't happen and we don't reduce the deficit by $600 billion. national debt, about $16 billion , debt held by the public -- as a percentage it is getting up there. we've had it before. as we talked about two weeks ago it is not so much that the size of the debt it is how fast the debt is growing in comparison to the size of the economy. you don't want to pay off the debt but you want it to fall. host: how did we get to this point? why is the...
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Dec 9, 2012
12/12
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cliff, the fiscal deficit, and the debt of the country, three topics that can be addressed now on a comprehensive and efficient fashion. >> so what should this mean? i think i could interpret any given number, to think oh, that means we should not touch taxes for any bracts, because it's as much money as we could have in it, or this means that we need more stimulus to keep the jobs going, or i could look at the debt and say this means we need to cut spending, so what does it mean? what would you, and what globally, what would mean the most for the u.s. to do? >> you know what you said? you would qualify as an economist. on the one hand, on the other hand -- the truth of the matter is that the best way out of this would be a balanced solution. you will always find a school of thought that will say it'sment better to cut spendings. another that will say it's better to increase the revenue and raise taxes. and another group that says we have to cut deficits now and in the long run. we have seen studies of all sorts, and they will not demonstrate the absolute truth. my view, personally,
cliff, the fiscal deficit, and the debt of the country, three topics that can be addressed now on a comprehensive and efficient fashion. >> so what should this mean? i think i could interpret any given number, to think oh, that means we should not touch taxes for any bracts, because it's as much money as we could have in it, or this means that we need more stimulus to keep the jobs going, or i could look at the debt and say this means we need to cut spending, so what does it mean? what...
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Dec 27, 2012
12/12
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adam: with all the talk about the fiscal cliff and debt ceiling people are feeling the pinch. money is tight. budgets are even tighter. one company is banking on the odds you will want to save money with your car insurance. this new device. it can make it possible to cut your auto insurance by up to 25%. all because you get charged by the number of miles you drive. we have the ceo of metro miles joins me now to explain how this works. and how does it work? how can you beat geico and progressive and all the others? how does this thing do it? >> well, the device is called the metro no, ma'am. and it alas us to track -- allows us to track the number of people drive. what we've seen in the u.s. is a change the way we're using our cars. and there is a big divide growing between high mileage drivers and low-mileage drivers. for example --. adam: what is the average per year. used to be 12,000. are we still putting 12,000 on the car? >> used to be 12,000. for the average person under 35 years old, they drive 3,000 miles less than they did 10 years ago. they're driving about 8,000 mil
adam: with all the talk about the fiscal cliff and debt ceiling people are feeling the pinch. money is tight. budgets are even tighter. one company is banking on the odds you will want to save money with your car insurance. this new device. it can make it possible to cut your auto insurance by up to 25%. all because you get charged by the number of miles you drive. we have the ceo of metro miles joins me now to explain how this works. and how does it work? how can you beat geico and progressive...
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Dec 31, 2012
12/12
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hopes for a fiscal cliff deal. standard and poor is lower. based on the announcement that they would use debt to fund its acquisition. the back deal sealed on november november 27 to. $5 billion. year to date numbers of about 10%. hoping it will contribute to these. lori: markets climbing toward session high spirit which fourth quarter stock laggers are set to rebound? editor jack l. is here with some of his picks next. ashley: live behind the scenes for attackers biggest night of the der -- year. let the ball drop. take a look at some of today's winners. ♪ ashley: breaking news. senate minority leader mitch mcconnell speaking live. the deal is close. let's listen in. >> we must do this. to what my colleagues to know that we will keep everyone updated as we continue to try to wrap this up. i yield the floor. >> senator from tennessee. >> appropriate. ashley: you just heard some a minority leader mitch mcconnell. lori: not happy. ashley: not happy. ashley: i will be looking more grumpy. lori: to say the least. lori: 450 for joint filers. if
hopes for a fiscal cliff deal. standard and poor is lower. based on the announcement that they would use debt to fund its acquisition. the back deal sealed on november november 27 to. $5 billion. year to date numbers of about 10%. hoping it will contribute to these. lori: markets climbing toward session high spirit which fourth quarter stock laggers are set to rebound? editor jack l. is here with some of his picks next. ashley: live behind the scenes for attackers biggest night of the der --...
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Nov 8, 2012
11/12
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if we combine the fiscal cliff and another debt ceiling, it will be an economic storm unlike anything we saw in 2008 when lehman fell. but the reason there is this question of going off the fiscal cliff, it's not about whether or not it benefits one side or the other per se, but whether anybody can actually cut a deal if we don't. can boehner get house republicans to sign onto tax increases before he's shown they did everything he could, gone off the cliff, and just not winning the public opinion battle? a lot of the way these negotiations have done has been a process of boehner showing his party, showing his side he did everything he absolutely could, and it's not clear the internal dynamics of the house republican conference have changed enough for boehner to solve this is a smooth or quicker fashion this time either? >> as president clinton said when he was campaigning for the president, it's all about simple arithmetic here. the country needs to make more money and spend less. are we going to see something dramatic, something bold happen? the constitution says we're supposeded to
if we combine the fiscal cliff and another debt ceiling, it will be an economic storm unlike anything we saw in 2008 when lehman fell. but the reason there is this question of going off the fiscal cliff, it's not about whether or not it benefits one side or the other per se, but whether anybody can actually cut a deal if we don't. can boehner get house republicans to sign onto tax increases before he's shown they did everything he could, gone off the cliff, and just not winning the public...
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Dec 27, 2012
12/12
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FBC
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stock trading near their lowest level of the day with five days until the fiscal cliff, we hit it, we had done. washington bureau chief is going to tell us the only way he sees a deal getting done. lori: we are running against the debt ceiling again. and we just raise that? we are borrowing again. new mixed signals on the economy. jobless claims fell to a 5-year low but consumer confidence tumbled as well. the director of economic policy senior fellow kevin hasic will be joining us. tracy: the northeast digging out for several inches of snow and more is on the way. will it be at wet blanket for retailers this critical shopping weekend? time for stocks as we do every 15 minutes, back to nicole petallides on the floor of the stock exchange. 130 points, could be a lot worse considering what we have been going through. nicole: we were talking about the top of the show, confidence numbers, americans felt the lowest level in four months and what we are seeing is the fiscal cliff worries could be to blame for the sudden drop. we are not seeing people jump into the markets here. they're movin
stock trading near their lowest level of the day with five days until the fiscal cliff, we hit it, we had done. washington bureau chief is going to tell us the only way he sees a deal getting done. lori: we are running against the debt ceiling again. and we just raise that? we are borrowing again. new mixed signals on the economy. jobless claims fell to a 5-year low but consumer confidence tumbled as well. the director of economic policy senior fellow kevin hasic will be joining us. tracy: the...
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Dec 31, 2012
12/12
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we have the fiscal cliff. you then have the debt ceiling. don't forget the debt ceiling. then you go back to the middle of 2013. by the time you get to it, you're back to a budget impass once again. so you're right, it's perpetual cliffs and falls and slowdowns. >> that just is not very heartening, my friend. so why is the u.s. stock market having one of the best years, one of the ten best years ever? >> that's an easy one. firstly, very low. 2008, look at the graph. and it's gone like that all the way down and it's come back up again and equities remain cheap. bonds weren't doing that much. it was a perfect opportunity to take advantage of certain special situations. but don't be fooled. there's an element of scotch missed about this. the first whiff of really nasty problems, you're going to see the market volatility. we know the index. we know high frequency trading. we know the time bombs are out there if somebody chooses to detonate them. there's no question that the fragility of that which we are seeing remains firmly in place. >> an element of scotch missed about th
we have the fiscal cliff. you then have the debt ceiling. don't forget the debt ceiling. then you go back to the middle of 2013. by the time you get to it, you're back to a budget impass once again. so you're right, it's perpetual cliffs and falls and slowdowns. >> that just is not very heartening, my friend. so why is the u.s. stock market having one of the best years, one of the ten best years ever? >> that's an easy one. firstly, very low. 2008, look at the graph. and it's gone...
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Nov 16, 2012
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>> indeed, what can you get for $16 trillion, besides a swift kick towards the fiscal cliff? why not buy apple, exxon, walmart, google, and ibm all of them combined. >> not just as a group, but eight times as a group. you could buy 30.4 billion shares of apple today. that's even more than steve wozniak owns right now, i'm sure. and this is my favorite. with that money, you could buy $53 million mcdonald's franchises. >> yeah, or -- >> and here's your favorite. >> the hope diamond, but not just one hope diamond. you could buy the hope diamond 64,000 times. that's a lot of bling, bill. >> in your dreams, drury. in your dreams, right? >> okay, so that's what you get for $16 trillion. >> that's a lot of dough. there's the number. it continues to climb. >> okay. coming up next, folks, we're coming back with the closing countdown. >>> after the bell, the latest "twilight" movie looks like at blockbuster in the making. we're going to look at what that film means for the company l lionsgate. >>> and delta is digging through the airplane graveyard. where it could help them fly above t
>> indeed, what can you get for $16 trillion, besides a swift kick towards the fiscal cliff? why not buy apple, exxon, walmart, google, and ibm all of them combined. >> not just as a group, but eight times as a group. you could buy 30.4 billion shares of apple today. that's even more than steve wozniak owns right now, i'm sure. and this is my favorite. with that money, you could buy $53 million mcdonald's franchises. >> yeah, or -- >> and here's your favorite. >>...
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Dec 31, 2012
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which potentially negotiate on fiscal cliff number two, the debt ceiling battle. and throw in dealing with the sequester as well. we're waiting to hear what the details of that, because we don't know. on the taxes, just on the taxes, as they are structured now, if you look at the tax deal, comparing it to what the re-knew you would get over ten years, it's roughly $600 billion that they get revenue coming in from the tax deal they are striking with the framework tonight. hurricane sandy recovery billion is $60.4 billion. it's about the same annually. >> preclintonnian tax and spend democratic philosophy. you take in $60 billion a year from the rich. and it's simply you spend half of that on unemployment insurance. the rest of is it spent on all the credits, tax credits which are going to be undone. which will be retaped. if a cliff is avoided and the deal was accepted. you take the money and you spend money. this would increase the debt and deficit. republicans have one choice in the house. i don't know if boehner is able to do it. we'll go over the cliff of midni
which potentially negotiate on fiscal cliff number two, the debt ceiling battle. and throw in dealing with the sequester as well. we're waiting to hear what the details of that, because we don't know. on the taxes, just on the taxes, as they are structured now, if you look at the tax deal, comparing it to what the re-knew you would get over ten years, it's roughly $600 billion that they get revenue coming in from the tax deal they are striking with the framework tonight. hurricane sandy...
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Dec 6, 2012
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fiscal cliff plan and the debt ceiling plan. what was he trying to do? >> guest: he was trying to embarrass the democrats. for instance, the president's plan on the debt ceiling was basically allowing the president to request whatever increases without the approval of congress and he thought that would embarrass democrats if they had to vote for it particularly endangered ones. >> sounded like leader reid took the bait. how the democrats respond? >> guest: there are a lot in politics going on here. we just talked about politics from mcconnell's side. democrats are aware that even if they allow -- even if they get the republicans to crumble on raising tax rates for upper bracket people there is still going to be a need next year, say march, to increase the debt limit and that was what john boehner used as is leverage a year-and-a-half ago in his talks with president obama so there's a belief on the part of democrats that they would like to get this idea in common circulation and also trying to manufacture some dialogue, the debt
fiscal cliff plan and the debt ceiling plan. what was he trying to do? >> guest: he was trying to embarrass the democrats. for instance, the president's plan on the debt ceiling was basically allowing the president to request whatever increases without the approval of congress and he thought that would embarrass democrats if they had to vote for it particularly endangered ones. >> sounded like leader reid took the bait. how the democrats respond? >> guest: there are a lot in...
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Dec 31, 2012
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something has to be done. >> forget the fiscal cliff stuff and forget the debt ceiling stuff. the fact is that tomorrow morning, the tax rate, the social security tax rate on every american who works is going up. the medicare tax rate on high income people is going up. the tax on medical devices tomorrow morning, is going up. forget fiscal cliff. taxes are going up almost across the board. give me a quick comment on that. >> well, you know what? this has got to be the first time ever that it's december 31st and i have no idea what i'm going to be making tomorrow in terms of take home pay. you know, if you're a businessman, how do you decide what you're going to do with your business this year, you don't know how much you're going to be paying in taxes. if you're a consumer, how do you decide what you're spending your money on in the upcoming year. the level of uncertainty, i think, is unprecedented, and the fact that it's gone on this long is-- i mean, it's insane, it's really crazy. outrageous, that's what it is. kelly jane, just stay there for a second, please, i've got to d
something has to be done. >> forget the fiscal cliff stuff and forget the debt ceiling stuff. the fact is that tomorrow morning, the tax rate, the social security tax rate on every american who works is going up. the medicare tax rate on high income people is going up. the tax on medical devices tomorrow morning, is going up. forget fiscal cliff. taxes are going up almost across the board. give me a quick comment on that. >> well, you know what? this has got to be the first time...
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Nov 28, 2012
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the fiscal cliff. today on the senate floor, minority leader mitch mcconnell abusing president obama -- accusing president obama of being back on the campaign trail instead of working with lawmakers. have you seen anything to indicate that we are close to a resolution, or even moving in that direction? >> i haven't. it's hard to come to a resolution when one of the parties to that isn't around. the president, as you mentioned, is out on the campaign trail again. >> greta: you're referring to his trip this friday to pennsylvania. >> right. you've got to have presidential leadership to do big things. that's what we need right now. obviously republicans are here, ready to go to work, ready to solve the issue of the fiscal cliff. what the president wants to do, however, is to raise taxes on small businesses, almost a million small businesses who employee 25% of the workforce. that's his proposal. republicans cannot be for that. the president said in his press conference right after the election that his nu
the fiscal cliff. today on the senate floor, minority leader mitch mcconnell abusing president obama -- accusing president obama of being back on the campaign trail instead of working with lawmakers. have you seen anything to indicate that we are close to a resolution, or even moving in that direction? >> i haven't. it's hard to come to a resolution when one of the parties to that isn't around. the president, as you mentioned, is out on the campaign trail again. >> greta: you're...
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up next a jump off the fiscal cliff. the latest way -- the fastest way to a solution on the debt. >>> all the numbers indicate that going off the fiscal cliff would hurt the u.s. economy in the short term. but could it be the best thing in the long run? going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returni
up next a jump off the fiscal cliff. the latest way -- the fastest way to a solution on the debt. >>> all the numbers indicate that going off the fiscal cliff would hurt the u.s. economy in the short term. but could it be the best thing in the long run? going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion...
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Dec 8, 2012
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the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not clear that the republicans will agree to including a debt limit increase in that kind of package and if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration has been clear they will not sign anything. even to get past december 31st. so do you think they can hold firm on that if republicans offer them a package that doesn't include the debt ceiling? >> this is where i think the tension is now arising, which is even if you have some agreement over the tax rates which will jam the republicans a bit, can you jam them on the debt limit also, the concern will be an administration overstepping or overream reaching and trying to jam in the kinds being discussed now. i'm all in favor of getting rid of the debt limit. it makes no sense from a technical perspective. but it's probably a bridge too far to attempt that right now. the question really will become without any more significant entitlement reform a
the real concern is shifting or will shift from the fiscal cliff to the debt limit. it's not clear that the republicans will agree to including a debt limit increase in that kind of package and if they don't, we may get past december 31st only to find ourselves with a big problem in february or march. >> the obama administration has been clear they will not sign anything. even to get past december 31st. so do you think they can hold firm on that if republicans offer them a package that...
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Nov 19, 2012
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cliff debt crisis. right now the dow on pace for its best gain in more than two months. check out the cbo volatility index, moving lower by 6% right now. again, what we were talking about before, michelle, with gene, even as the market was going lower, there was no fear in the market and it continues to move lower. fear indicator at a multimonth low right now. >>> active investing, is it dying? having a mutual fund or hedge fund manager who actively picks stocks instead of just investing in a fund, like the s&p, like a spdr. >> there's ron who says the rumors of the demise of active manager are greatly exaggerated. we welcome you both and we hope you play nicely. >> i suspect we will. >> what is contributing to the death of the active manager? >> it's nothing new and nothing new that passive is outperforming. the big thing has been over the past two years, it's been an absolute slaughter. i think it comes down to three factors. the first two are nothing really new 37. number one is risk aversion, a lot
cliff debt crisis. right now the dow on pace for its best gain in more than two months. check out the cbo volatility index, moving lower by 6% right now. again, what we were talking about before, michelle, with gene, even as the market was going lower, there was no fear in the market and it continues to move lower. fear indicator at a multimonth low right now. >>> active investing, is it dying? having a mutual fund or hedge fund manager who actively picks stocks instead of just...
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Dec 28, 2012
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cliff because of the need to raise the debt ceiling. ashley: interesting. get right to it. what stocks and sectors do you like? where do you put your money? what are you telling your clients? >> great point. the reason the markets hanging in here because it has to do with qe. market makers do not want to be out of the market with $85 million a month between qe3 and 4. we want to be defensive here. there's risk. listening to the last guest who made good points about the economy, and, you know, this is not a fiscal cliff, but a slope. the stuff that happens here, tax rates, they occur over the rest of the year, not all at once at the beginning of the year so we want to be defensive in the allocation. look for things that provide a steady consistent dividend. companies with steady growth in the payout, it's a great substitution for income into portfolios, but it lowers volatility over things like technology stocks which are tied to market movements so, you know, things like coca-cola, proctor and gamble, clorox, great companies, long consi
cliff because of the need to raise the debt ceiling. ashley: interesting. get right to it. what stocks and sectors do you like? where do you put your money? what are you telling your clients? >> great point. the reason the markets hanging in here because it has to do with qe. market makers do not want to be out of the market with $85 million a month between qe3 and 4. we want to be defensive here. there's risk. listening to the last guest who made good points about the economy, and, you...
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Nov 7, 2012
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in his next term, president obama will have to avoid that fiscal cliff we've all been talking about. navigate the debt ceiling debate, coordinate the drawdown from afghanistan among other things. he is also under pressure to come up with comprehensive immigration reform. mark halpern, i asked you earlier but i'll ask you again, why should we believe things will be different this time? is it just becausest fiscal cliff? if we do clear the fiscal cliff, why does that change the politics? >> if they get a big deal like that, i think the bipartisan muscles will work and the personal relationships will be required. that's, to me, the big missing element. there is not in the first term particularly the last year of the president's first term there is not a lot of warmness between the president and mitch mcconnell and john boehner. they're both back as the leaders of their party. he has to breakthrough in order to have at least trust if not warm fuzziness. >> how are second terms generally different for a president? is it a liberation? >> should be. but they can be perilous. remember, iran-
in his next term, president obama will have to avoid that fiscal cliff we've all been talking about. navigate the debt ceiling debate, coordinate the drawdown from afghanistan among other things. he is also under pressure to come up with comprehensive immigration reform. mark halpern, i asked you earlier but i'll ask you again, why should we believe things will be different this time? is it just becausest fiscal cliff? if we do clear the fiscal cliff, why does that change the politics? >>...
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Dec 6, 2012
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what do americans, average americans, want to see in a fiscal cliff deal? steve leisman here now with our exclusive results of the cnbc all-america economic survey. what do americans want, steve? >> what you would expect. free stuff, tyler. actually, no, we'll get into that in a second. first we want to show you results of our december cnbc all-america survey. what we asked about the fiscal cliff. the first thing we wanted to establish is do people know about this thing? we looked at some of the other times we've asked this. what we'll see right here is other situations where they knew it, where other main stories that were out there. for example, the trayvon martin shooting. 91% of americans knew about that. occupy wall street, 80%. going forward what you have here, facebook, 72%. all the way down to 70%. you can look at this a couple ways. here's the greek financial crisis. 30% of the public not really paying attention to. inside that 70% number, 36% have know a lot about it. we'll compare with other stuff we asked last time about when they had a debt --
what do americans, average americans, want to see in a fiscal cliff deal? steve leisman here now with our exclusive results of the cnbc all-america economic survey. what do americans want, steve? >> what you would expect. free stuff, tyler. actually, no, we'll get into that in a second. first we want to show you results of our december cnbc all-america survey. what we asked about the fiscal cliff. the first thing we wanted to establish is do people know about this thing? we looked at some...
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Dec 29, 2012
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just when you thought the fiscal cliff was a lot of fun we get the debt ceiling. that will be a load of joy, wouldn't it. oil companies are not just the only winners from the u.s. production boom. billions of dollars are about to be dumped on a huge variety of businesses this year. details whh businesses will see some big-time gains and how you can get in on the action. >>> plus iran launches six days of war games in the strait of hormuz. is the regime preparing to stir up trouble in the one of the world's critical oil routes? more "money" coming up adam: if you're just joining us it has been a wild day in those negotiations over the fiscal cliff. president obama's meeting with congressional leaders ended about an hour ago. the president will make a statement on the fiscal cliff at 5:45 eastern time. we'll take that same live at fbn we have a picture of the white house for you and we will keep you posted when the president comes to the camera. >>> the oil boom doing more than increasing chances we'll become energy independent. it is also bringing about booming inv
just when you thought the fiscal cliff was a lot of fun we get the debt ceiling. that will be a load of joy, wouldn't it. oil companies are not just the only winners from the u.s. production boom. billions of dollars are about to be dumped on a huge variety of businesses this year. details whh businesses will see some big-time gains and how you can get in on the action. >>> plus iran launches six days of war games in the strait of hormuz. is the regime preparing to stir up trouble in...
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Dec 28, 2012
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things like europe, the european debt crisis, things like our fiscal cliff crisis, a slowdown in china. this is how stocks are moving right now. it's no longer how many cannes of coke did we sell last quarter. it's really tied to this so it matters more than before. they're panicking and starteding to see it. look no further than the consumer confidence number dropping, the retail sales. ge has blamed some poorer results this past quarter on lack of investment. you know, honeywell is seeing the pain. they're not filling empty positions. it's already -- it has been starting to affect companies for probably, you know, at least the past quarter already. >> okay. thank you, joy, and thank you leigh. remember, president obama is going to make a statement on the fiscal cliff talks at 5:45 eastern time and msnbc will provide live coverage. until then, chris matthews is up next with the best "sideshow" moments of the year and the nra's best excuses for standing in the way of any and all reasonable restrictions on guns. this is "hardball," the place for politics. to the best vacation spot on ea
things like europe, the european debt crisis, things like our fiscal cliff crisis, a slowdown in china. this is how stocks are moving right now. it's no longer how many cannes of coke did we sell last quarter. it's really tied to this so it matters more than before. they're panicking and starteding to see it. look no further than the consumer confidence number dropping, the retail sales. ge has blamed some poorer results this past quarter on lack of investment. you know, honeywell is seeing the...
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Sep 24, 2012
09/12
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going into the year end, fiscal cliff, debt issues, a lot of these guys, their payouts are going to shrink. if you have some profits, probably should take them. >> speaking of which, maybe folks are doing that in gold today. is this just a temporary pullback? rick rule is founder and chairman of sprott global investments. got to have how i do not show today. >> thanks for the opportunity. >> we know why gold's been going up. it's because the central bank activity around the world has people moving into precious metals. is today telling us anything we should be worried about or is it just a temporary pullback? >> i think it's temporary. i think there's confidence in the system. gold has traditionally been the counterpart to confidence. i think people are feeling better about things. the moves in gold over the last couple of years have been more episodic. i suspect some other episode will take place to return today's trends. >> what kind of target are we talk about year end? >> i don't have a specific target except higher. the target i would have would be one that would be known to bernanke
going into the year end, fiscal cliff, debt issues, a lot of these guys, their payouts are going to shrink. if you have some profits, probably should take them. >> speaking of which, maybe folks are doing that in gold today. is this just a temporary pullback? rick rule is founder and chairman of sprott global investments. got to have how i do not show today. >> thanks for the opportunity. >> we know why gold's been going up. it's because the central bank activity around the...